Sellbyville, DE -- (SBWIRE) -- 06/12/2019 -- Global Market Insights, Inc. has released a new research study on Haptic Technology Market Analysis 2019-2025 inclusive of one or more factors covering regional opportunities, application landscape, product demand trends, and end-use portfolio of the industry over the forecast timeframe. The report also outlines the competitive framework of the industry detailing the SWOT analysis and market share dominance of the prominent players.

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Players operating in the haptic technology market include SMK Electronics, Immersion Corporation, Texas Instruments, Inc., Haption S.A., Force Dimension, and Geomagic, Inc. Companies have adopted strategies such as new product developments or innovations, mergers, acquisitions, collaborations, and partnerships to sustain the increasing competition in the market. For instance, in May 2018, Immersion Corporation signed a licensing agreement with Panasonic to add haptics to automotive interfaces application, strengthening its hold in the global market.

A major trend impacting the haptic technology market is the implementation of the 3D touchscreen with haptic feedback. For instance, Microsoft has developed devices incorporating these technologies along with 3D screens, which can provide feedback to operators and give them the ability to push 3D objects around in a virtual space. The trend of manufacturing self-service kiosks by implementing these technologies will aid in increasing the usability of touch senses in the kiosks. Advanced electrostatics is used to create movement sensations on kiosk touch screens, eliminating the need for movable components such as servers & scanners and suitable for all screen sizes and types.

The implementation of IoT systems with these components is an advanced technical trend in the haptic technology market owing to its use in eccentric rotating mass, linear resonant, and piezoelectric actuators. Apple's Taptic Engine, which is an IoT system based on the LRA technology provides a localized experience for improving users' touch on the keyboard.

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The rising consumption of digital interfaces incorporating these technologies is driving the haptic technology market growth. In commercial settings, the interface reduces the need for office supplies. These technologies provide users with immediate information and allow them to modify the behavior to cater to the various tasks such as ledger keeping and data analyzing more efficiently. Training workers on the operation of new technologies is an important and tedious task for organizations. These systems aid in reducing the efforts and the time required for training due to their easy adaptability and usage.

The education segment is witnessing a rapid growth in the haptic technology market. The high growth is due to its implementation in conducting performing experiments such as understanding the the feel of tissues and visualizing the interaction of Nano-scale materials. These technologies are also used in educating visually-impaired students by providing study materials in electronic devices with haptic displays. The haptic technology has growth opportunities in healthcare machines as doctors are able to navigate through and view the patient's 3D brain scan. It is increasingly implemented in cases of perceptual deficiencies by health professionals and patients to alert them in performing necessary actions and can be used in both home and hospital settings.

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Haptic Technology industry is predicted to witness significant growth from 2018 to 2024 driven by its increasing use in touch screen systems. Most consumer electronic devices such as cell phones, laptops, and public display systems provide touch-enabled displays. Growing consumer preference for using highly-advanced technical devices, such as 3D touchscreens, virtual gaming objects, and interactive kiosks, is increasing the haptic technology market demand. The implementation of the technology is done by manufacturers to maintain a competitive advantage over the rivals in this industry. This technology provides several advantages such as enhanced user experience, tactile feedback, and a feel of a realistic and immersive environment. For instance, in gaming applications, the user is able to experience the recoil from a gunshot or car collision, providing a better user experience.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.